v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 38,728 $ 29,970
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 12,537 8,541
Amortization of debt issuance cost 917 474
Share-based compensation 13,138 7,658
Non-cash lease expense 2,632 3,240
Unrealized (gain) loss on investments (976) 5,485
Income from equity method investments (1,534) (5,207)
Unrealized loss on interest rate swaps 0 49
Deferred tax (7,259) (3,746)
Other 7,091 0
Changes in operating assets and liabilities, net of business combinations:    
Receivables, net (38,012) (17,296)
Receivables, net - related parties (10,289) (17,673)
Other receivables (2,386) 1,229
Prepaid expenses and other current assets (4,539) (2,277)
Other assets (1,262) (21)
Accounts payable and accrued expenses 25,668 (2,864)
Fiduciary accounts payable (416) 538
Medical liabilities 10,751 13,335
Income taxes payable/receivable (13,061) 15,396
Operating lease liabilities (2,397) (3,309)
Other long-term liabilities (166) 0
Net cash provided by operating activities 29,165 33,522
Cash flows from investing activities    
Payments for business acquisition, net of cash acquired (114,585) 350
Proceeds from repayment of promissory notes, including those with related parties 256 2,143
Purchase of marketable securities (55) (2,022)
Purchase of investments - privately held (2,500) (2,000)
Purchase of investment – equity method (5,968) (325)
Purchase of call option issued in conjunction with equity method investment (3,907) 0
Issuance of promissory notes (21,000) 0
Purchases of property and equipment (3,205) (17,367)
Net cash used in investing activities (150,964) (19,221)
Cash flows from financing activities    
Dividends paid (1,896) (842)
Borrowings on long-term debt 170,320 1,734
Repayment of long-term debt (11,000) (312)
Payment of finance lease obligations (362) (303)
Proceeds from the exercise of stock options and warrants 0 1,250
Taxes paid from net share settlement of restricted stock (3,584) 0
Repurchase of treasury shares 0 (9,539)
Proceeds from sale of non-controlling interest 150 0
Purchase of non-controlling interest (25) (50)
Net cash provided by (used in) financing activities 153,603 (8,062)
Net increase in cash and cash equivalents 31,804 6,239
Cash, cash equivalents, and restricted cash, beginning of period 294,152 288,027
Cash, cash equivalents, and restricted cash, end of period 325,956 294,266
Supplemental disclosures of cash flow information    
Cash paid for income taxes 35,742 7,881
Cash paid for interest 14,613 6,264
Supplemental disclosures of non-cash investing and financing activities    
Fixed asset obtained in exchange for finance lease liabilities 152 0
Right-of-use assets obtained in exchange for operating lease liabilities 7,661 701
Common stock issued in business combination 21,952 800
Draw on letter of credit through Revolver Loan 4,732 0
Reconciliation of cash, cash equivalents, and restricted cash    
Cash and cash equivalents 325,310 293,921
Restricted cash 646 345
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows $ 325,956 $ 294,266

Source

10-Q PDF
XBRL